Malaysian E-Commerce Giant PUC Berhad Teams With Wanchain For Enterprise Blockchain Solutions
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Blockchain firm Wanchain has partnered with Malaysian firm PUC Berhad to incorporate blockchain solutions into PUC’s ecosystem for decentralized credit scoring, lending, and loyalty points.
Built in China and headquartered in Austin, TX, Wanchain’s platform connects and exchanges value between different blockchain ledgers in a distributed way. It uses the latest cryptographic theories to build a non-proprietary cross-chain protocol and a distributed ledger that records both cross-chain and intra-chain transactions. Any blockchain network, whether a public, private, or consortium chain, can integrate with Wanchain to establish connections and perform low-cost, inter-ledger asset transfers.
PUC is a publicly-listed company in Malaysia. The company’s digital services include financial technology related services, new media, eCommerce, mobile payment, digital imaging, and artificial intelligence. It is also well known in Malaysia as the brain behind PrestoMall, one of the country’s most popular online markets and also the Presto Super App.
PUC is working with Wanchain to integrate blockchain technology into several segments of their businesses. Under the agreement, Wanchain will be the core technology provider for the Malaysian firm’s blockchain strategy.
“A partnership with Wanchain will strengthen our position in the blockchain vertical as we look to incorporate this groundbreaking technology in various aspects of our business,” said Kenneth Hiew, PUC Group Chief Commercial Officer. “We look forward to working together to bring added efficiencies, customer offerings, and other benefits to PUC’s ecosystem.”
The objective of the partnership is incorporate Wanchain’s blockchain technology into a wide range of their consumer-facing products. Some of PUC’s plans to work together with Wanchain under the enterprise solution initiatives using Wanchain’s private chain include: decentralized credit scoring, tokenization of loyalty points for use in PUC’s ecosystem, and decentralized lending based on Wanchain’s blockchain technology.
“This is only the first of several upcoming cooperations between Wanchain and traditional companies looking to integrate blockchain into their businesses, and is significant not only for the Wanchain organization, but for the greater adoption and use of blockchain worldwide,” said Jack Lu, Founder & CEO of Wanchain. “Wanchain aims to be the go-to blockchain for businesses looking to take advantage of the uniquely powerful benefits blockchain brings.”